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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENT REPORTING | 22. SEGMENT REPORTING In its operation of the business, management, including our chief operating decision maker, who is our Chief Executive Officer, reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with GAAP. The Company operates in three segments: supply chain financing service and trading business, asset management service and others. The Company began to provide supply chain financing services during the second quarter of 2021. The Company began to provide sand and steel supply chain financing services during the first quarter of 2023. The Company began to provide brokerage services during the October 2023. Some of our operation might not individually meet the quantitative thresholds for determining reportable segments and we determine the reportable segments based on the discrete financial information provided to the chief operating decision maker. The chief operating decision maker evaluates the results of each segment in assessing performance and allocating resources among the segments. Since there is an overlap of services and products between different subsidiaries of the Company, the Company does not allocate operating expenses and assets based on the product segments. Therefore, operating expenses and asset information by segment are not presented. Segment profit represents the gross profit of each reportable segment. For fiscal year 2024:
|  | Supply Chain Financing/ Trading |  |  | Brokerage service |  |  | Others |  |  | Total |
Reportable segment revenue |  | $ | 983,246 |  |  | $ | 870,864 |  |  | $ | 304,015 |  |  | $ | 2,158,125 |
Inter-segment loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Revenue from external customers |  |  | 983,246 |  |  |  | 870,864 |  |  |  | 304,015 |  |  |  | 2,158,125 |
Segment gross profit |  | $ | 163,892 |  |  | $ | 813,747 |  |  | $ | 294,378 |  |  | $ | 1,272,017 |
For fiscal year 2023:
|  | Supply Chain Financing/ Trading |  |  | Brokerage service |  |  | Others |  |  | Total |
Reportable segment revenue |  | $ | 20,769,323 |  |  | $ | 298,505 |  |  | $ | 629,377 |  |  | $ | 21,697,205 |
Inter-segment loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Revenue from external customers |  |  | 20,769,323 |  |  |  | 298,505 |  |  |  | 629,377 |  |  |  | 21,697,205 |
Segment gross profit |  | $ | 465,020 |  |  | $ | 294,437 |  |  | $ | 362,148 |  |  | $ | 1,121,605 |
Loss from Continuing Operations before Income Tax:
|  | For the Years Ended, |
|  | 2024 |  |  | 2023 |
Supply chain financing/trading |  |  | 3,753,106 |  |  |  | 848,031 |
Brokerage service |  |  | 581,483 |  |  |  | 206,030 |
Others |  |  | 4,340,920 |  |  |  | 636,436 |
Corporate and Unallocated |  |  | 26,830,350 |  |  |  | 32,250,678 |
Total operating expenses and other expense |  |  | 35,505,859 |  |  |  | 33,941,175 |
Loss from Continuing Operations before Income Tax |  |  | (34,233,842 | ) |  |  | (32,819,570 | )
Segment assets:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Supply chain financing/trading |  |  | 5,717,948 |  |  |  | 12,437,136 |
Brokerage service |  |  | 5,066,369 |  |  |  | 5,088,522 |
Others |  |  | 13,252,693 |  |  |  | 14,062,310 |
Corporate and Unallocated |  |  | 1,865,928 |  |  |  | 23,117,744 |
Assets related to discontinued operation |  |  | - |  |  |  | 6,235,038 |
Total assets |  |  | 25,902,938 |  |  |  | 60,940,750 |
Assets subject to attribution to business segments largely include property, plant and equipment, receivable and right of use assets. All other items are reflected in Corporate and Unallocated.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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